Family Business Advisory Conference
Issues covered include: funding, restructuring and exit strategies, foreign investors, succession planning, relationship breakdowns
Description
Find the answers to the family business clients’ dreams: How to avoid family conflict but ensure business success. In one information-packed day you will gain the best strategies to help your family business clients throughout the entire business lifecycle. From startup & structuring to challenges such as family or relationship breakdown or foreign investment, to selling, exiting or splitting up the family business, bring yourself up to speed on the key strategies from the leading tax & family law experts.
Chair: Joelle Tabone, Partner, Business Advisory Services, HLB Mann Judd
PERFECTING YOUR FUNDING, RESTRUCTURING AND EXIT STRATEGIES
9.00am to 9.55am: Family Enterprises: Focus on Startups and Funding
Family enterprises including family offices are increasingly interested in investing in startups.
- Exploring the key drivers and advantages of investing in startups
- The next generation members: diversify and deploy capital into a dynamic and high risk market segment that has the potential to provide high returns
- Investors: take a proactive interest in the startup and pass on their experience as a successful entrepreneur by mentoring the founders of the startup
- An alternate approach: next generation family members to undertake their own start-up with the backing of the family enterprise
- Taking advantage of the available tax incentives to keep the entrepreneurial spirit alive and younger family members engaged
Presented by Fiona Hinrichsen, Associate Partner – Family Office Advisory and Private Client Services, EY
9.55am to 10.55am: Family Business Restructuring to Avoid Risks throughout Generations
- When is a restructure required: commercial and family drivers
- Options for restructuring the family business to ensure the optimum structure for future generations
- Dealing with participating and non-participating family members in the family business
- The importance of equity holder agreements within the family group
- Ensuring consistency with the estate plan
Presented by Andrea Carrick, Director, AG Tax Lawyers; Chartered Tax Adviser
10.55am to 11.10am Morning Tea
11.10am to 12.05pm: Your Preparation Guide and Tax Exit Strategies for Selling a Family Business
- Preparing to sell: key commercial and tax issues need to be considered for family businesses at the preliminary stage
- Should a family business be sold through a sale of share or assets: a detailed analysis of pros and cons
- Taking advantages of the GST going concern exemption
- Understanding the tax treatments of earnouts
- Dealing with sale of pre-CGT businesses and shares and CGT concessions
Presented by Gary Poon, Partner, Tax, BDO
FAMILY BUSINESSES IN THE GLOBAL CONTEXT
12.05pm to 1.00pm: Foreign Investors Coming to Australia: Crucial Tax and Commercial Considerations
Increasing amount of foreign investors are seeking investment and business opportunities in Australia. Explore the various inbound issues from both tax and commercial perspectives that should be brought to your clients’ attention.
- When does your client become a tax resident? The changing nature of residence for both individuals and corporates
- CGT cost base on becoming a resident
- Australian permanent establishment issues
- State tax surcharges for foreign investors
- Foreign Investment Review Board (FIRB) issues you should consider for your clients
Presented by Philip Diviny, Partner, Madgwicks Lawyers; Chartered Tax Adviser
1.00pm to 1.45pm Networking Lunch
1.45pm to 2.40pm: Succession Planning for Family Businesses Beyond Australia’s Borders
- Overview of personal succession planning from an international point of view
- Effects of overseas beneficiaries or testators on distributions from deceased estates
- Incapacity while overseas and how could you assist your clients: preparing the right enduring powers of attorney for international needs
- Troubleshooting common issues with international clients or international assets
- Practical case study of US citizen residing in Australia and potential cross border tax implications on Australian structures (including superannuation)
Presented by Anna Hacker, National Manager – Estate Planning, Accredited Specialist in Wills & Estates, Australian Unity Trustees Legal Services
STRATEGIES TO AVOID FAMILY CONFLICTS
2.40pm to 3.35pm: Splitting a Family Business in the Most Tax Effective Way
- Principles of tax effective restructures to split a family business
- Use of CGT concessions, including general CGT discount, small business CGT concessions, related superannuation contribution cap
- Use of CGT (and other) rollovers, including on key events such as death and divorce
- Other issues e.g. funding, value shifting, GST, duty, debt forgiveness
- Example scenarios for untangling a family business
Presented by Ross Higgins, Partner, Mills Oakley; Chartered Tax Adviser
3.35pm to 3.50pm Afternoon Tea
3.50pm to 4.45pm: Can You Protect Your Clients’ Family Business Interests from their Marital or Relationship Breakdown?
- Treatment of business interests in family law proceedings: asset, financial resource, or income
- The relevance of discretionary family trust: when should it be treated as an asset of the relationship?
- The importance of identifying who controls the entity
- Risks of transferring assets during relationship difficulties
- Possibilities an limitations of binding financial agreements: avoiding the common traps
Presented by John Spender, Principal and Deborah Wilson, Senior Associate, Kennedy Partners Lawyers; Accredited Specialists in Family Law
Accreditation
Attend and earn 6.5 CPD units
FASEA CPD Categories
6.5 CPD units in Technical Competence
All our conferences are able to count towards your CPD hours in accordance with the regulations of any industry association including CA ANZ, CPA and more. Click here to view your organisations' rules.
Venue
RACV City Club
Level 2, 501 Bourke St
Melbourne 3000
VIC
Australia
Parking Information
Parking is not included in your registration. Here are some options below. RACV City Club Car Park.
Directions